Stork BV to Establish Independent Governance for Fokker Technologies and Stork Technical Services

Stork BV announces a new governance structure for Fokker Technologies and Stork Technical Services. As per January 1, 2013, both companies have their own two-tier Board. This step enables Fokker Technologies and Stork Technical Services to establish and grow two distinct, international businesses. Stork BV will consequently limit its role to that of shareholder of both companies.

Under the new governance structure, both entities will have their own Supervisory Boards. Fokker Technologies’ new Supervisory Board consists of five members and will be chaired by Mr. Jacques Schraven, who will remain chairman of the Supervisory Board of shareholder Stork BV. Mr. Henk Rottinghuis will become chairman of the Supervisory Board of Stork Technical Services, which consists of six members. The current Executive Boards of both companies remain as they are.

“This new governance structure is the logical next step following the establishment of two separate capital structures for the operations in August of last year. Stork Technical Services can now operate fully independently under the continued leadership of Doug Meikle as CEO and its Supervisory Board now chaired by Henk Rottinghuis”, says Sjoerd Vollebregt, CEO of Fokker Technologies and of Stork BV. “The new governance is a key milestone in the establishment of both Fokker and Stork Technical Services as independent entities that are set to follow their own growth paths.” 

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Source: Fokker Aerostructures
Date: Jan 4, 2013